@csrf
Abubakar Ali Peters

19.05.2022 Featured EFCC Reveals Role of Ali Peters, Nadabo Energy Ltd MD, in ‘N1.4bn Fraud’

Published 19th May, 2022

By Joseph Adeiye

The Economic and Financial Crimes Commission (EFCC), has revealed the part Abubakar Ali Peters, the CEO of Nadabo Energy Limited, played in an alleged N1.4 billion fraud.

According to a series of tweets by the commission on Thursday, Peters is facing a 27-count charge bordering on fraud.

READ ALSO: EFCC Nabs Ahmed Idris Accountant-General of the Federation Over N80bn Fraud

“Abdulrasheed Bawa, who is the fifth prosecution witness, PW5, in the ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for an alleged N1.4 billion fraud, on Wednesday, May 18, 2022, further told Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja, Lagos, that Peters made only one confirmed genuine transaction in the six transactions involved in the oil business with St. Vanessa,” the statement read in part.

READ ALSO: In Oyo EFCC Officers Break Into Hotel at Night Kidnap Many

When the trial resumed on Wednesday, the defence counsel, E.O. Isiramen, continued with the cross-examination of Bawa, which he began on December 20.

“Under cross-examination, Bawa acknowledged that there were six transactions. Peters had only one confirmed, genuine transaction with St Vanessa. That was the one for about 5,000 MT,” said EFCC.

On December 10, 2012, EFCC arraigned Peters and Nadabo Energy Ltd. before Justice C. A. Balogun of the Lagos High Court, Igbosere, for fraudulently obtaining money from the federal government through Petroleum Support Fund. The offence is contrary to section 1 (2) and (3) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.

READ ALSO: In Enugu EFCC Arrests Church Founder Wanted by FBI for Wire Fraud

Peters and Nadebo tried to obtain the sum of N1,464,961,978 from the Federal Government of Nigeria by falsely claiming that the sum represented subsidy accruing to Nadebo under the support fund for petrol imports into Nigeria through MT American Express Ex MT St. Venessa.

Peters pleaded not guilty to the two-count fraud charge. He has been appearing in court for the same fraud case since 2012, and has appeared six times this year.

A Lagos State High Court sitting in Ikeja admitted more pieces of evidence against Peters and Nadebo on December 8.

Published 19th May, 2022

By Joseph Adeiye

Advertisement

Our Stories

In New Video, ISWAP Claims Responsibility for Kuje Prison Attack

Abba Kyari

EXCLUSIVE: How Red Cross’s Iron Doors Saved Abba Kyari from Death at the Hands of Terrorists in Kuje Prison

Ike Ekweremadu

NIMC Tells Court Why It Can’t Obey Ruling to Release David Ukpo’s Data to Ekweremadu

Kuje Prison

THE INSIDER: Boko Haram Gave 15-Min Quranic Lecture to Kuje Inmates Before Setting Them Free

All Boko Haram Suspects in Kuje Prison Escaped During Invasion, Says Defence Minister

MI Reveals Rapper Eedris Abdulkareem Needs Help to Overcome Kidney Failure

Cars

Afialink Int’l Receives N2.95m From Customer But Fails to Deliver His Car

Ukrainian Refugee Who ‘Snatched’ Benefactor’s Husband in the UK Now Partially Blind

‘They Dislocated My Finger and Drank Gin’ — ‘EndSARS Lawyer’ Ridwan Oke Recounts Ordeal in the Hands of Law-Breaking Policemen

OPEC Secretary-General Sanusi Barkindo Dies in Nigeria

Advertisement